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Jan 26, 2010
01/10
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what about what washington's going to do? one of the rumors we're starting to see again is there might be restrictions on short selling again. whenever there's uncertainty people naturally gravitate toward pushing a stock. >> apart from the instant uncertains of today, of this week, are your customers excessively risk averse because of what they've gone through over the past couple of years? are they holding back and ultimately will they come back into the marketplace when they say i can't live on 0% returns on the fixed income. >> i think, yes, they will definitely come back. i think we're starting to see people come back. >> originally you come back with a toe in the water, so to speak and you go with a foot and things like that. >> a lot of them lost a leg. >> i agree. so when you come back, they'll come back smarter and they're taking a swimming lesson, so to speak right now. >> they're learning how to right calls. >> that's why your options business is up so big. >> even if the stock doesn't move. they make money on eith
what about what washington's going to do? one of the rumors we're starting to see again is there might be restrictions on short selling again. whenever there's uncertainty people naturally gravitate toward pushing a stock. >> apart from the instant uncertains of today, of this week, are your customers excessively risk averse because of what they've gone through over the past couple of years? are they holding back and ultimately will they come back into the marketplace when they say i...
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Jan 14, 2010
01/10
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"the washington post" reports 34 companies not just google victims of cyberattacks. is cyberespionage a cost of being business in china? what can companies do? i'm thinking by more stuff. larry clinton and president and ceo of the inter-nate security alliance and brian cunningham, former white house security guy, now a lawyer at morgan and cunningham. larry, without make a pitch for buying more stuff, i want to ask you, shouldn't google and the other 34 companies had better protection to stop this from happening? >> certainly it's possible that they should have better managed their financial cyberrisk. obviously, they should have been able to anticipate that they were going to be attacked, there have been studies for a number of years, northrop grumman did a study last year on the extent of attacks from china. but you don't have to be doing business in china to be attacked by the chinese. all american companies face similar sorts of problems and managing their cyberrisks bet. >> right. brian sunni cunningham seems li government should be concerned. if the chinese wer
"the washington post" reports 34 companies not just google victims of cyberattacks. is cyberespionage a cost of being business in china? what can companies do? i'm thinking by more stuff. larry clinton and president and ceo of the inter-nate security alliance and brian cunningham, former white house security guy, now a lawyer at morgan and cunningham. larry, without make a pitch for buying more stuff, i want to ask you, shouldn't google and the other 34 companies had better protection...
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Jan 29, 2010
01/10
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part is simply the washington debt. yesterday they raises the national debt by $1.9 trillion just to cover this year. it's gigantic in the deficits are running big. the problem -- adding to the problem is that the level of gdp and economic activity in the country is still diminished. you've got more washington and less private sector. that combination creates debt strains. the state budget deficits are in trouble because of that dichotomy. >> david, you just said the gdp, u.s. gdp is bad. i saw the initial report fourth quarter, 5.7%. that's nothing to sneer at. >> hi, dennis. i said the level of gdp is bad. not the growth rate. so it had a sequential increase from the third quarter to the fourther. we're still barely above a full year ago, meaning it's a lost year in terms of the economy. and that means that any debt payments that are coming due are under pressure. >> secretary, is there any way to break the partisan gridlock in washington and get the two sides actually sincerery to deal with one another? >> well, you
part is simply the washington debt. yesterday they raises the national debt by $1.9 trillion just to cover this year. it's gigantic in the deficits are running big. the problem -- adding to the problem is that the level of gdp and economic activity in the country is still diminished. you've got more washington and less private sector. that combination creates debt strains. the state budget deficits are in trouble because of that dichotomy. >> david, you just said the gdp, u.s. gdp is bad....
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Jan 7, 2010
01/10
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did the federal reserve in washington know that? why not? i think we have only did i think because of the attitudes of the economic adviser ares under obama, which include tim geithner, we have only really to this point, you may not fully agree with this, we have only begun to touch the surface of this. we don't really understand the crisis. >> if that is the case if indeed more need to be discovered, and if the treasury secretary's effectiveness in office is compromised who else could fill those shoes at this point? >> first, it's too early to talk about replacements for tim geithner. >> there are people who are doing that. >> if we go down that road it's a legitimate question. he not clear, to me anyway, there's anybody that barack obama could pick that would able to be effective right away without some lengthy srt transsort of transition period getting up to speed. what the flame of the moment is. this does have a cumulative effect whether -- whatever the details are that over the time the more these stories come out it does wear on someb
did the federal reserve in washington know that? why not? i think we have only did i think because of the attitudes of the economic adviser ares under obama, which include tim geithner, we have only really to this point, you may not fully agree with this, we have only begun to touch the surface of this. we don't really understand the crisis. >> if that is the case if indeed more need to be discovered, and if the treasury secretary's effectiveness in office is compromised who else could...
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Jan 19, 2010
01/10
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a lot of drama in washington. the prospect is clear and present to democrats of losing that 60th vote in the united states senate. now, as for the effect on health care, i think if the market is betting on health care to fail because of this, they're making a bat bed. democrats are so far down the road, one way or the other they're likely to get this over the finish line either as you suggested steny hoyer indicating two weeks to pass this bill before scott brown would be seated. that's one option. most of the people i talked to in the white house are skeptical that that is going to get done. but rather, they could have the house pass the senate bill, agree to fix it later in the view of the house, that's the more likely option. i do think issues like energy, financial regulation could be affected by this. look at the tone that the president obama took when he went to massachusetts over the weekend and listen for the signs of a sharp democratic turn to populism. >> but instead of taking the side of working familie
a lot of drama in washington. the prospect is clear and present to democrats of losing that 60th vote in the united states senate. now, as for the effect on health care, i think if the market is betting on health care to fail because of this, they're making a bat bed. democrats are so far down the road, one way or the other they're likely to get this over the finish line either as you suggested steny hoyer indicating two weeks to pass this bill before scott brown would be seated. that's one...
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Jan 21, 2010
01/10
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so we've been taking our lead from washington. since they started talking about the bank tax and everything else on the firms on the bigger banks the market has been skittish. there's no need to rush back into the marketplace. i don't take it lightly. i've been a bull from 900, 910 in the s&p all the way up to these levels. i did think we were going to get to 1200. near term i have to turn bearish. i don't take it lightly but the market speaks for itself in everything that we've seen coming out of washington. the market doesn't like it. >> we've seen strength in the regional banks. how are you planning moves in the financials? >> the reege in banks stand to gain the most and feel as if this levels the playing field. i believe that it's a lose/lose situation for all of the banks, for all of the financials. they might have a knee-jerk reaction and rally in the face of it, but i think the regulation that we're going down -- i'm not one of the guys that believe we shouldn't have any regulation but we're pulling the wrong type of regul
so we've been taking our lead from washington. since they started talking about the bank tax and everything else on the firms on the bigger banks the market has been skittish. there's no need to rush back into the marketplace. i don't take it lightly. i've been a bull from 900, 910 in the s&p all the way up to these levels. i did think we were going to get to 1200. near term i have to turn bearish. i don't take it lightly but the market speaks for itself in everything that we've seen coming...
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Jan 8, 2010
01/10
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as for washington, rents in that city were down only 3%. average office rent in new york now exceeds washington's per square foot by only $3. >>> up next, the markets got off to a hot start this week. 150 points higher on monday. since then we've been in a very tight trading range. what is on the radar for next week's action? we'll get you ready to make some money with trader triple play. >>> just minutes from now, richmond fed president andrew lacquer is going to speak out about the economy. we're going to bring you the headlines as soon as the news breaks. could be a market mover. he frequently commented on inflation. right now the dow jones industrial average is down 23 points. the ten-year note, a little bit of a move there. crude oil has been a mover, up 2/3 of a percent at $83.22. the information you need. at northern trust, our sophisticated technology... puts the most accurate information at your fingertips. so while you may find yourself waiting now and then, it won't be for the numbers you wanted by 7am. ♪ northern trust. wealth
as for washington, rents in that city were down only 3%. average office rent in new york now exceeds washington's per square foot by only $3. >>> up next, the markets got off to a hot start this week. 150 points higher on monday. since then we've been in a very tight trading range. what is on the radar for next week's action? we'll get you ready to make some money with trader triple play. >>> just minutes from now, richmond fed president andrew lacquer is going to speak out...
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Jan 28, 2010
01/10
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the -- you know i don't want to get too involved with washington, but how can you not when washington leads wall street? when you start to hear this rhetoric that has killed every rally, that's what make me nervous at this point. we still have much unknown on the front with the banks, what leverage will look like, what new rules and regulations will look like. what cap and trade is going to look like. so there's a lot of unknowns and it makes people take their ball and go home. >> we can talk greece flop and china tightening but obama bashing ain't helping. >> obama bashing and worldwide global on slot is not going to help this. >> foreign firms getting hit, correct? >> that is correct. greece spilled out here, everyone thought that was the leading story. who knows? it my be. we haven't spoken about gdp tomorrow that might be an upside surprise if you had to grasp on something. >>> many cities across the nation are mired in recession, one city in the midst of a downtown rebirth of sorts. when you say oklahoma city the next word many people think of is, bombing. but 15 years after that
the -- you know i don't want to get too involved with washington, but how can you not when washington leads wall street? when you start to hear this rhetoric that has killed every rally, that's what make me nervous at this point. we still have much unknown on the front with the banks, what leverage will look like, what new rules and regulations will look like. what cap and trade is going to look like. so there's a lot of unknowns and it makes people take their ball and go home. >> we can...
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Jan 4, 2010
01/10
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washington's post says in fact we are in a snowballing trade fight. paul krugman with a koum out saying china is not playing fair and u.s. ought to get tougher. joining us to talk trade, commerce secretary gary lock who says he's here to kick off a new $300 million campaign for the census. which mr. secretary, thanks for joining us. we are going to get to the census in a second. our viewers are very interested in the topic of trade with china. as you can imagine. just today "the washington post" highlighting what we noticed for a while here on cnbc. ever since september, more and more trade tensions with china. chicken, steel, paper, salt. are we at risk with a trade war with china? >> no. we at the department of commerce along with the united states trade representatives office have been very vigorous and very vigilant in enforcing our trade axwreemts with china. when we enter into agreement was china to allow chinese goods to come into the united states and american goods to go into china, we do so on the promise that both sides will abide by variou
washington's post says in fact we are in a snowballing trade fight. paul krugman with a koum out saying china is not playing fair and u.s. ought to get tougher. joining us to talk trade, commerce secretary gary lock who says he's here to kick off a new $300 million campaign for the census. which mr. secretary, thanks for joining us. we are going to get to the census in a second. our viewers are very interested in the topic of trade with china. as you can imagine. just today "the washington...
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Jan 27, 2010
01/10
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with "the kudlow report" and special presentation from washington talking about the hurdles that the president is facing right now as he tries to tamp down i would have to say what is a spreading brush fire of discontent in the country. >> yes. >> a brush fire that you saw on capitol hill today. >> oh, yes tie anger of the questions posed by so many of those creme. >> in particular, because that hearing was billed as why was the new york fed so secretive about paying goldman sachs 100 cents on the hour. what the hearing turned out was why did you pay them 100 cents on the dollar and still angry about this. >> it is interesting because mr. geithner was very fis. >>ty he was defending the role and basically said that the actions they took were better than alternatives. the best of a bad lot of options. a sort of paradox that i guess he felt he faced and he defended the idea that they had to pay 100 cent tons dollar because not doing so would have been tantamount to a bankruptcy and unraveled the entire financial system. let's bring in steve leesman for his reactions not only to secreta
with "the kudlow report" and special presentation from washington talking about the hurdles that the president is facing right now as he tries to tamp down i would have to say what is a spreading brush fire of discontent in the country. >> yes. >> a brush fire that you saw on capitol hill today. >> oh, yes tie anger of the questions posed by so many of those creme. >> in particular, because that hearing was billed as why was the new york fed so secretive about...
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Jan 15, 2010
01/10
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likely to generate little simple sympathy from washington or main street. we'd love to get $100,000 bonus in cash. >> of course. let me point out, we have two charts to show you. first look at this first chart. 2009 wall street revenues $450 billion, up 47%. 2009 compensation, if the journal study is right up 18%, less than half of the rising revenues. pay as percentage of revenues fall. down to 30%. it was 40%. next one, average pay per worker on wall street $1 350ushgs 50,0. up less than $3,000 in two years. what is the scandal? other than the idea of a socialist idea that it's wrong for someone to make too much money in our economy. if someone follows the law, i wish them well in making all the money they can. >> in political times, facts don't mat. >> especially these political times. >> whether the facts bear out your point of view, those guys are tone deaf, they do not get it. >> the question remains, we're not going -- again it's -- we live in a capitalist society. you want people paid for performance. people feel that performance is that good becaus
likely to generate little simple sympathy from washington or main street. we'd love to get $100,000 bonus in cash. >> of course. let me point out, we have two charts to show you. first look at this first chart. 2009 wall street revenues $450 billion, up 47%. 2009 compensation, if the journal study is right up 18%, less than half of the rising revenues. pay as percentage of revenues fall. down to 30%. it was 40%. next one, average pay per worker on wall street $1 350ushgs 50,0. up less...
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Jan 25, 2010
01/10
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joining us now is cnbc's chief washington correspondent john harwood. chief political strategist at potomac research group, cnbc contributor. john, what are you hearing this morning in terms of vote counts? >> senior white house official will be confirmed comfortably. guess being half the republican caucus and it is going to vote 20 votes for this. will be in the low 60s. >> greg, what's that mean if that comes in the low 60s meaning 40 votes? >> well, that's the point. i think they have been weakened and they have to say the blood lust from the populist for a human sacrifice will persist. i think that they are still out for geithner. we get bernanke, it would have been unthinkable and unforgivable if congress had not approved bernanke. i think that geithner still has real problems. >> in terms of mr. bernanke, though, chairman bernanke, how will if indeed the vote count comes in as is suggested, how does it change or does it change the way that the fed does business? because it dash you know, it certainly is not a huge vote of confidence given what we
joining us now is cnbc's chief washington correspondent john harwood. chief political strategist at potomac research group, cnbc contributor. john, what are you hearing this morning in terms of vote counts? >> senior white house official will be confirmed comfortably. guess being half the republican caucus and it is going to vote 20 votes for this. will be in the low 60s. >> greg, what's that mean if that comes in the low 60s meaning 40 votes? >> well, that's the point. i...
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Jan 20, 2010
01/10
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>> i'm diana olick in washington. it will get harder for some borrowers to get a low down payment loan, but fha officials say they have to make the changes to shore up the balance sheet. we'll explain. >>> let's get to the market action. the dow havingst biggest drop since late october now down over 190 points. energy stocks among the losies, as oil plunges, financials among the winners. bob pisani kicks it off at the new york stock exchange. >> good afternoon. the important thing is it's all about china believe it or not, not about the massachusetts election. chinese authorities tightening lending standards and telling banks not to lend during the month of january. china's the global engine of growth and the material stocks are hurting. take a look at some of the big commodity names that are out there. >> it's still under pressure. and rio tinto and the gold stocks like newmont are all under pressure here. the dollar's strong and industrial stocks, most of them are down 2% to 6% and the transports like ryder and csx.
>> i'm diana olick in washington. it will get harder for some borrowers to get a low down payment loan, but fha officials say they have to make the changes to shore up the balance sheet. we'll explain. >>> let's get to the market action. the dow havingst biggest drop since late october now down over 190 points. energy stocks among the losies, as oil plunges, financials among the winners. bob pisani kicks it off at the new york stock exchange. >> good afternoon. the...
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Jan 5, 2010
01/10
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let's go to the beltway buzz from cnbc's chief washington correspondent john harwood. guys, good to see you. john, can we assume that since he's going to have to focus more, it seems now, on security, does that push the domestic agenda to the back burner? >> at least in the near term, it does. certainly this distraction posed by the terror plot in at temp to bring down the airliner was the last thing that the president wanted on his vacation or this first week back in washington. the only good news, he has a small amount of cushion because congress doesn't come back and engage until next week. so quul see some of that attention get siphoned out or returned back to health care next week. no question that this is not a topic the white house wants to linger on very long. >> jimmy, if indeed some of the domestic agenda items get pushed away, is it perversely or not pretty good for the markets? >> well, i suppose you think the passage of the items that say cap and trade plan -- >> what if it doesn't? if energy goes to the way side, cap and trade doesn't happen? >> i think e
let's go to the beltway buzz from cnbc's chief washington correspondent john harwood. guys, good to see you. john, can we assume that since he's going to have to focus more, it seems now, on security, does that push the domestic agenda to the back burner? >> at least in the near term, it does. certainly this distraction posed by the terror plot in at temp to bring down the airliner was the last thing that the president wanted on his vacation or this first week back in washington. the only...